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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Griffin Corporation invested $128,000 to acquire 27,000 shares of Delta Technologies, Inc. on March 1, 2017. On July 2, 2017, Delta pays a cash dividend of $1.25 per share. The investment is classified as an available-for-sale investment. Which of the following is the correct journal entry to record the transaction on July 2, 2017?

A) Cash   33,750   
     Long-term InvestmentsTrading Investments      33,750

B) Cash   33,750   
     Long-term InvestmentsHeld-to-Maturity      33,750

C) Cash   33,750   
     Dividend Revenue      33,750

D) Cash   33,750   
     Long-term InvestmentsAvailable-for-Sale      33,750
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
7 years ago
Excellent Slight Smile
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#4
3 years ago
Thanks!
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#5
2 years ago
thanks!
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